Trump at it again! .... EU for next Trade-War?

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Derek  10 Apr 2019

Good Morning,

Trump threatens tariffs of $11 billion of EU goods. That was the spark to break the 8 day winning streak on the S&P500.

Trump's China Trade-War took the S&P500 down from 293706 to 235110 (-20%). We will have to see what damage his new EU-Trade-War is going to do?
The S&P500 did not break the EMA8 line yet, but because we are in overbought territory, a lot of profit taking is taking place.

The DAX also started correcting to close just above the EMA8 line.

Most of the share graphs looks the same .... a FrontRunner break with a red MACD bar and a close just above the EMA8 line. See all of this for Bank of America.

JSE Technical:
It was mainly resources and retail that had some positive moves on the JSE.

Sanlam made a small J-Curve and closed +1.11% stronger, still in a strong short term trend.

After Pick n Pay bounced 3 times on support, it finally managed to break the negative trend line. The 200 day moving average is acting as resistance now.

Enjoy your day.
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